Submit Search
Upload
Chapter 02 principles and practice of general insurance
•
Download as PPT, PDF
•
12 likes
•
9,758 views
I
iipmff2
Follow
Report
Share
Report
Share
1 of 17
Download now
Recommended
..
Life insurance ppt
Life insurance ppt
yuvanshu
General insurance
General insurance
Shivani Yadav
Insurance sectore in india
Insurance sectore in india
Harit Yadav
Comprehensive Presentation about EFU General Insurance Ltd, Pakistan
Efu general insurance Ltd. Pakistan
Efu general insurance Ltd. Pakistan
Samina Afzal
general Insurance
Insurance products 2 ( General Insurance)
Insurance products 2 ( General Insurance)
Rohit Kumar
1-Organization of insurer Consolidation means that the number of firms in the financial services industry has declined over time because of merger and acquisition. Convergence means that financial institutions can now sell a wide variety of financial products that earlier were outside their core business area. An effective organizational structure benefits a company by: Responsibility Authority Accountability Delegation The Organization Chart :An organization chart also shows the company’s chain of command, or the structure of authority that flows downward in the organization from the higher levels to the lower levels. Pyramidal Structure and Levels of Authority:The pyramidal structure illustrates that the authority in a company starts at the top with one person or a small group of people, Authority is then distributed through the chain of command to ever-larger numbers of people throughout out the company. 2- TYPES OF INSURERS ORGANIZATION Insurance organizations are classified by basis of risk coverage [life, general,health, property, auto]. their agency system [independent, exclusive, direct selling]and formation from legal point of view – stock or mutual. Stock insurers Mutual insurers Lloyd’s of London Reciprocal exchanges
Chapter 3: Organization of insurer
Chapter 3: Organization of insurer
Marya Sholevar
PPT for General insurance company
PPT for General insurance company
Dr.Yogesh Bhargava
=)
Ico bwrr2043(c1-intro.1)
Ico bwrr2043(c1-intro.1)
Cyla Marcia
Recommended
..
Life insurance ppt
Life insurance ppt
yuvanshu
General insurance
General insurance
Shivani Yadav
Insurance sectore in india
Insurance sectore in india
Harit Yadav
Comprehensive Presentation about EFU General Insurance Ltd, Pakistan
Efu general insurance Ltd. Pakistan
Efu general insurance Ltd. Pakistan
Samina Afzal
general Insurance
Insurance products 2 ( General Insurance)
Insurance products 2 ( General Insurance)
Rohit Kumar
1-Organization of insurer Consolidation means that the number of firms in the financial services industry has declined over time because of merger and acquisition. Convergence means that financial institutions can now sell a wide variety of financial products that earlier were outside their core business area. An effective organizational structure benefits a company by: Responsibility Authority Accountability Delegation The Organization Chart :An organization chart also shows the company’s chain of command, or the structure of authority that flows downward in the organization from the higher levels to the lower levels. Pyramidal Structure and Levels of Authority:The pyramidal structure illustrates that the authority in a company starts at the top with one person or a small group of people, Authority is then distributed through the chain of command to ever-larger numbers of people throughout out the company. 2- TYPES OF INSURERS ORGANIZATION Insurance organizations are classified by basis of risk coverage [life, general,health, property, auto]. their agency system [independent, exclusive, direct selling]and formation from legal point of view – stock or mutual. Stock insurers Mutual insurers Lloyd’s of London Reciprocal exchanges
Chapter 3: Organization of insurer
Chapter 3: Organization of insurer
Marya Sholevar
PPT for General insurance company
PPT for General insurance company
Dr.Yogesh Bhargava
=)
Ico bwrr2043(c1-intro.1)
Ico bwrr2043(c1-intro.1)
Cyla Marcia
1-INSURANCE COMPANY OPERATIONS The most important insurance company operations consist of the following: Ratemaking Underwriting Production Claim settlement Reinsurance Insurers also engage in other operations, such as accounting, legal services, loss control, and information systems. 2-RATING AND RATEMAKING Ratemaking refers to the pricing of insurance and the calculation of insurance premiums . A rate is the price per unit of insurance. An exposure unit is the unit of measurement used in insurance pricing, which varies by line of insurance. The person who determines rates and premiums is known as an actuary . An actuary is a highly skilled mathematician who is involved in all phases of insurance company operations, including planning, pricing, and research. 3-UNDERWRITING Underwriting refers to the process of selecting, classifying, and pricing applicants for insurance . The underwriter is the person who decides to accept or reject an application. Statement of Underwriting Policy:Underwriting starts with a clear statement of underwriting policy. An insurer must establish an underwriting policy that is consistent with company objectives. 4-PRODUCTION The term production refers to the sales and marketing activities of insurers. Agents who sell insurance are frequently referred to as producers . Life insurers have an agency or sales department. This department is responsible for recruiting and training new agents and for the supervision of general agents, branch office managers, and local agents. Property and casualty insurers have marketing departments. To assist agents in the field, special agents may also be appointed. A special agent is a highly specialized technician who provides local agents in the field with technical help and assistance with their marketing problems. 5-CLAIMS SETTLEMENT Every insurance company has a claims division or department for adjusting claims. This section of the chapter examines the basic objectives in adjusting claims, the different types of claim adjustors, and the various steps in the claim-settlement process. Basic Objectives in Claims Settlement: Verification of a covered loss Fair and prompt payment of claims Personal assistance to the insured 6-REINSURANCE Reinsurance is an arrangement by which the primary insurer that initially writes the insurance transfers to another insurer (called the reinsurer) part or all of the potential losses associated with such insurance . The primary insurer that initially writes the insurance is called the ceding company . The insurer that acceptspart or all of the insurance from the ceding com pany is called the reinsurer . The amount of insurance retained by the ceding company for its own account is called the retention limit or net retention . The amount of insurance ceded to the reinsurer is known as the cession
Chapter 4: INSURANCE COMPANY OPERATIONS
Chapter 4: INSURANCE COMPANY OPERATIONS
Marya Sholevar
thaks u,see all the friends and slideshare web designers and orginers.
Insurance company in india
Insurance company in india
Ramanathan Ravikumar
There are two broad types of insurance: 1- Life Insurance 2- General Insurance
Types of insurance
Types of insurance
dineshmt
In this presentation we will deal with Insurance organizations, their operational structure, insurer’s function and key business terms used in this sector. To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
Functions and Organisations of Insurance
Functions and Organisations of Insurance
We Learn - A Continuous Learning Forum from Welingkar's Distance Learning Program.
ppt. on insurance sector in India
Insurance Sector in India ppt
Insurance Sector in India ppt
MANISH KUMAR CHAUHAN
What is insurance? What is general insurance? Types of general insurance, etc
General insurance
General insurance
Avish Shah
General Insurance
General insurance
General insurance
ManojKumar Balakrishnan
Irda act
Irda act
Dr. Ravneet Kaur
includes a detailed presentation on insurance sector
insurance sector ppt
insurance sector ppt
Jay Shah
FUNCTIONS OF INSURANCE
FUNCTIONS OF INSURANCE
Aftab Mulla
Insurance sector ppt
Insurance sector ppt
sachinverma
Stocks price
Stocks price
iipmff2
Statistics
Statistics
iipmff2
Statistical calculation sample
Statistical calculation sample
iipmff2
Solver 1
Solver 1
iipmff2
Sharp portfolio optimiser
Sharp portfolio optimiser
iipmff2
Riskfree lending and borrowing
Riskfree lending and borrowing
iipmff2
Residual
Residual
iipmff2
Portfolio evaluation
Portfolio evaluation
iipmff2
Pm
Pm
iipmff2
Mckinsey tutorial on valuations
Mckinsey tutorial on valuations
iipmff2
Mck valuation sprdsheet
Mck valuation sprdsheet
iipmff2
More Related Content
Viewers also liked
1-INSURANCE COMPANY OPERATIONS The most important insurance company operations consist of the following: Ratemaking Underwriting Production Claim settlement Reinsurance Insurers also engage in other operations, such as accounting, legal services, loss control, and information systems. 2-RATING AND RATEMAKING Ratemaking refers to the pricing of insurance and the calculation of insurance premiums . A rate is the price per unit of insurance. An exposure unit is the unit of measurement used in insurance pricing, which varies by line of insurance. The person who determines rates and premiums is known as an actuary . An actuary is a highly skilled mathematician who is involved in all phases of insurance company operations, including planning, pricing, and research. 3-UNDERWRITING Underwriting refers to the process of selecting, classifying, and pricing applicants for insurance . The underwriter is the person who decides to accept or reject an application. Statement of Underwriting Policy:Underwriting starts with a clear statement of underwriting policy. An insurer must establish an underwriting policy that is consistent with company objectives. 4-PRODUCTION The term production refers to the sales and marketing activities of insurers. Agents who sell insurance are frequently referred to as producers . Life insurers have an agency or sales department. This department is responsible for recruiting and training new agents and for the supervision of general agents, branch office managers, and local agents. Property and casualty insurers have marketing departments. To assist agents in the field, special agents may also be appointed. A special agent is a highly specialized technician who provides local agents in the field with technical help and assistance with their marketing problems. 5-CLAIMS SETTLEMENT Every insurance company has a claims division or department for adjusting claims. This section of the chapter examines the basic objectives in adjusting claims, the different types of claim adjustors, and the various steps in the claim-settlement process. Basic Objectives in Claims Settlement: Verification of a covered loss Fair and prompt payment of claims Personal assistance to the insured 6-REINSURANCE Reinsurance is an arrangement by which the primary insurer that initially writes the insurance transfers to another insurer (called the reinsurer) part or all of the potential losses associated with such insurance . The primary insurer that initially writes the insurance is called the ceding company . The insurer that acceptspart or all of the insurance from the ceding com pany is called the reinsurer . The amount of insurance retained by the ceding company for its own account is called the retention limit or net retention . The amount of insurance ceded to the reinsurer is known as the cession
Chapter 4: INSURANCE COMPANY OPERATIONS
Chapter 4: INSURANCE COMPANY OPERATIONS
Marya Sholevar
thaks u,see all the friends and slideshare web designers and orginers.
Insurance company in india
Insurance company in india
Ramanathan Ravikumar
There are two broad types of insurance: 1- Life Insurance 2- General Insurance
Types of insurance
Types of insurance
dineshmt
In this presentation we will deal with Insurance organizations, their operational structure, insurer’s function and key business terms used in this sector. To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
Functions and Organisations of Insurance
Functions and Organisations of Insurance
We Learn - A Continuous Learning Forum from Welingkar's Distance Learning Program.
ppt. on insurance sector in India
Insurance Sector in India ppt
Insurance Sector in India ppt
MANISH KUMAR CHAUHAN
What is insurance? What is general insurance? Types of general insurance, etc
General insurance
General insurance
Avish Shah
General Insurance
General insurance
General insurance
ManojKumar Balakrishnan
Irda act
Irda act
Dr. Ravneet Kaur
includes a detailed presentation on insurance sector
insurance sector ppt
insurance sector ppt
Jay Shah
FUNCTIONS OF INSURANCE
FUNCTIONS OF INSURANCE
Aftab Mulla
Insurance sector ppt
Insurance sector ppt
sachinverma
Viewers also liked
(11)
Chapter 4: INSURANCE COMPANY OPERATIONS
Chapter 4: INSURANCE COMPANY OPERATIONS
Insurance company in india
Insurance company in india
Types of insurance
Types of insurance
Functions and Organisations of Insurance
Functions and Organisations of Insurance
Insurance Sector in India ppt
Insurance Sector in India ppt
General insurance
General insurance
General insurance
General insurance
Irda act
Irda act
insurance sector ppt
insurance sector ppt
FUNCTIONS OF INSURANCE
FUNCTIONS OF INSURANCE
Insurance sector ppt
Insurance sector ppt
More from iipmff2
Stocks price
Stocks price
iipmff2
Statistics
Statistics
iipmff2
Statistical calculation sample
Statistical calculation sample
iipmff2
Solver 1
Solver 1
iipmff2
Sharp portfolio optimiser
Sharp portfolio optimiser
iipmff2
Riskfree lending and borrowing
Riskfree lending and borrowing
iipmff2
Residual
Residual
iipmff2
Portfolio evaluation
Portfolio evaluation
iipmff2
Pm
Pm
iipmff2
Mckinsey tutorial on valuations
Mckinsey tutorial on valuations
iipmff2
Mck valuation sprdsheet
Mck valuation sprdsheet
iipmff2
Market model calculation
Market model calculation
iipmff2
Calculation of beta
Calculation of beta
iipmff2
Iipm chapter 1
Iipm chapter 1
iipmff2
Iipm chapter 3
Iipm chapter 3
iipmff2
Iipm chapter 1
Iipm chapter 1
iipmff2
Financial functions
Financial functions
iipmff2
Financial functions
Financial functions
iipmff2
Advanced functions
Advanced functions
iipmff2
Sustainable competitive advantage cs & notes toyota cs
Sustainable competitive advantage cs & notes toyota cs
iipmff2
More from iipmff2
(20)
Stocks price
Stocks price
Statistics
Statistics
Statistical calculation sample
Statistical calculation sample
Solver 1
Solver 1
Sharp portfolio optimiser
Sharp portfolio optimiser
Riskfree lending and borrowing
Riskfree lending and borrowing
Residual
Residual
Portfolio evaluation
Portfolio evaluation
Pm
Pm
Mckinsey tutorial on valuations
Mckinsey tutorial on valuations
Mck valuation sprdsheet
Mck valuation sprdsheet
Market model calculation
Market model calculation
Calculation of beta
Calculation of beta
Iipm chapter 1
Iipm chapter 1
Iipm chapter 3
Iipm chapter 3
Iipm chapter 1
Iipm chapter 1
Financial functions
Financial functions
Financial functions
Financial functions
Advanced functions
Advanced functions
Sustainable competitive advantage cs & notes toyota cs
Sustainable competitive advantage cs & notes toyota cs
Chapter 02 principles and practice of general insurance
1.
PRACTICE OF
GENERAL INSURANCE
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
Download now
![MARINE INSURANCE ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)